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The Influence of Education on Economic Growth

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  • STEFAN CRISTIAN CIUCU

    (Cybernetics and Statistics Doctoral School, The Bucharest University of Economics Studies, 6 Piața Romană, 1st District, Bucharest, ROMANIA)

  • RALUCA DRAGOESCU

    (Cybernetics and Statistics Doctoral School, The Bucharest University of Economics Studies, 6 Piața Romană, 1st District, Bucharest, ROMANIA)

Abstract

In transition countries affected by uncertainty, the educational system usually suffers from lack of funds from the government and it is affected by various reforms. It is important to see how education influences economic growth and how this growth can be improved by investing in education. In this article, after a literature and econometric models review, the influence of primary, secondary and tertiary education over the GDP growth will be analyzed for Bulgaria, Czech Republic and the Netherlands, using regressions models, with the aid of computer software tool EViews. The models will be tested in order to obtain a good and reliable model.

Suggested Citation

  • Stefan Cristian Ciucu & Raluca Dragoescu, 2014. "The Influence of Education on Economic Growth," Global Economic Observer, "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences;Institute for World Economy of the Romanian Academy, vol. 2(1), pages 243-257, May.
    • Handle: RePEc:ntu:ntugeo:vol2-iss1-14-243
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    References listed on IDEAS

    as
    1. Andrei, Tudorel & Lefter, Viorel & Oancea, Bogdan & Stancu, Stelian, 2010. "A Comparative Study of Some Features of Higher Education in Romania, Bulgaria and Hungary," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 280-294, July.
    2. Robert J. Barro, 1998. "Determinants of Economic Growth: A Cross-Country Empirical Study," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262522543, December.
    3. Robert J. Barro, 1991. "Economic Growth in a Cross Section of Countries," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(2), pages 407-443.
    4. N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 107(2), pages 407-437.
    5. Jan Bergerhoff & Lex Borghans & Philipp Seegers & Tom Veen, 2013. "International education and economic growth," IZA Journal of European Labor Studies, Springer;Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 2(1), pages 1-13, December.
    6. Khattak, Naeem Ur Rehman & khan, jangraiz, 2012. "The Contribution of Education to Economic Growth: Evidence from Pakistan," MPRA Paper 51180, University Library of Munich, Germany.
    7. Jerik Hanushek & Dennis Kimko, 2006. "Schooling, Labor-force Quality, and the Growth of Nations," Voprosy obrazovaniya / Educational Studies Moscow, National Research University Higher School of Economics, issue 1, pages 154-193.
    8. Akram Ochilov, 2012. "Education And Economic Growth In Uzbekistan," Perspectives of Innovation in Economics and Business (PIEB), Prague Development Center, vol. 12(3), pages 21-33, November.
    9. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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    Cited by:

    1. Sandra TEODORESCU, 2017. "Formal Education in the European Union and Its Impact on the Macroeconomic Development," Romanian Statistical Review, Romanian Statistical Review, vol. 65(1), pages 73-90, March.
    2. Mihai Antonia & Zizi Goschin & Irina-Denisa Munteanu & Mihail-Dumitru Sacală, 2023. "The Effects of Schooling Level on Economic Convergence in Emerging Countries: Evidence from Romania," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 169(1), pages 125-142, September.

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    More about this item

    Keywords

    education; economic growth; GDP growth rate;
    All these keywords.

    JEL classification:

    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling

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